Home prices have cooled in 70 percent of the 200 largest housing markets. That’s good news for home buyers, but home sellers are faced with a new reality on what they may be able to get for their home.
However, not every market is slowing down. Realtor.com® has identified a handful of metros where home prices are rising and still seeing double-digit annual price growth.
Some of these growing housing markets were devastated by nearby natural disasters and are seeing prices climb as home buyers compete for a limited number of available properties. Other markets are seeing a flood of new residents move in, and some are seeing more residents relocating from pricier places nearby.
“Even with the deceleration in home price increases ... we are still seeing strong home buying in smaller metros that have good affordability and solid job growth,” Frank Nothaft, the chief economist at Corelogic, a real estate data firm, told realtor.com®.
Realtor.com® researchers analyzed isting data for 200 of the largest metro areas in the U.S. and ranked them on price and price-per-square-foot increases. The site also factored inventory, days on the market, and the percentage of homes seeing a price increase into its analysis. The following seven cities have seen some of the biggest growth recently:
- Chico, Calif.
- Birmingham, Ala.
- Spokane, Wash.
- Greensboro, N.C.
- Columbia, S.C.
- South Bend, Ind.
- Trenton, N.J.
View the full list of booming housing markets, and learn more about the trends behind the price increases, at realtor.com®
Source: “What Slowdown? The 10 Markets Where Home Prices Are Unstoppable,” realtor.com® (Jan. 28, 2019)
